Saudi Arabia is poised to expand use of oil storage tanks in Japan and China, strengthening ties with its two largest Asian buyers as it fends off competitors for market share.
The world’s biggest exporter plans to increase the amount of storage capacity it uses on Japan’s Okinawa islands, where it’s been leasing tanks since 2010, Amin Nasser chief executive officer of Saudi Arabian Oil Co., said Thursday in Tokyo.
The Definition For Sustainability In Mining: mining and mineral development that meets the growing needs of all communities while maintaining a healthy environment and vibrant economy for present and future generations.
16 November 2016, Le Meridian, Jakarta
The Connected Mine: Improve Efficiencies for the New Normal
With the downturn in world-wide mining, the industry is now focused more than ever on becoming more efficient, maximizing yield recoveries, and reducing costs.
Deputy of the Prevention of Corruption Eradication Commission (KPK) Pahala Nainggolan said, transparency in the process of issuing permits is the key to preventing corruption in the mining sector. All this time, he said, permits issuance has been a closed process filled with corruption indication.
For years industry has kept a close, real time watch on mechanical equipment. Some large equipment manufacturers have more than 250 sensors on their machines, all of which can be read in real time, even in a back office application. The large miners are now using autonomous units which can be controlled from thousands of kilometers away. Yet we maintain our 1950’s outlook on tires by using a manual inflation pressure gauge. Why?
A lawmaker urged the government to issue regulation in lieu of law (Perppu) while waiting for the House of Representatives to wrap up debate on the revision of the Oil and Gas Law.
Kurtubi of the Commission VI of the House of Representatives said here on Saturday that revision of the Oil and Gas Law is crucial to end problem in the energy sector, which has triggered polemics.
The Energy and Mineral Resources Ministry’s geological agency is considering teaming up with the private sector to search for new oil and gas reserves, as the former is struggling with limited budgets and technological capacities in performing its duties.
Indonesian oil and gas producer PT Medco Energi Internasional Tbk plans to invest $500 million to build a copper smelter following its deal to buy control of Newmont Nusa Tenggara (NNT), its president commissioner told Reuters.
Volatility will be an ongoing challenge for mining and metals companies for the foreseeable future. Fluctuations in commodity prices have become more rapid and frequent as commodity demand has become increasingly unpredictable. The longer-term economic outlook is also volatile, leading to the possibility of substantial revisions to long-term metal price forecasts and making it hard for mining and metals companies to plan for the future.